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Old 08-13-2019, 10:22 AM
 
Location: Jacksonville, FL
7,283 posts, read 7,911,210 times
Reputation: 5894

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Quote:
Originally Posted by TwoByFour View Post
What matters is the total tax you pay, not just income tax. Florida has high property tax and high sales tax. Something has to make up for not having an income tax. There is no such thing as a free lunch, you pay one way or another.
Florida sales tax is not that high actually. State tax is 6%. Property tax is moderately higher than Missouri, where I used to live, but not drastic. Missouri also has state income tax. Overall the tax liability is lowered than it was in Missouri.

Added by edit. Missouri also placed sales tax on food and prescriptions. Florida does not.
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Old 08-13-2019, 10:26 AM
 
Location: Haiku
4,838 posts, read 2,779,235 times
Reputation: 7066
We moved from a state with no income tax (Washington) to a state with income tax (Hawaii) and we pay less total tax now than we did in Washington. Hawaii has the lowest property tax in the nation, which is a big part of that savings.
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Old 08-13-2019, 10:30 AM
 
Location: San Diego
5,502 posts, read 1,520,647 times
Reputation: 3935
Quote:
Originally Posted by beach43ofus View Post
Most of them are rich. They own multiple homes, and have insurance to cover any potential posses. Having money buys your way out of most of the worries the poor and middle class struggle with.

If they see a Hurricane forecast for their area, they jet back to their other residence until the all clear is sounded.

If their place floods, they call their insurance agent to tell them to handle it, and then they jet off to their other place to live until its all cleaned up. This also gives the Misses an opportunity to redecorate the entire place.
What percentage of the people moving to Florida, are this wealthy and do these things?

Link/reference?

Or did you just make up a number, so you could unfairly bash "most of them"?
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Old 08-13-2019, 10:55 AM
 
Location: Northern NJ/Amagansett, NY
11,368 posts, read 10,383,108 times
Reputation: 8007
Quote:
Originally Posted by TwoByFour View Post
We moved from a state with no income tax (Washington) to a state with income tax (Hawaii) and we pay less total tax now than we did in Washington. Hawaii has the lowest property tax in the nation, which is a big part of that savings.
That is all relative, and situational.

In general, the more money you make, the less impact property tax has, and the more impact income tax has.
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Old 08-13-2019, 10:59 AM
 
Location: Jewel Lake (Sagle) Idaho
27,978 posts, read 17,941,353 times
Reputation: 15969
https://www.wsj.com/articles/forget-...hia-1526388500

BLUE RIDGE, Ga.—When former New Yorker Marty Stefanelli and his wife contemplated retirement, they didn’t know where to look until a visit to this Appalachian mountain town last year.

“We bought a house that week,” Mr. Stefanelli said. “I need to find time to wind down, and Blue Ridge forces you to wind down.”

Quote:
For the 57-year-old Mr. Stefanelli, the area’s draws included moderate weather, a lack of traffic and low costs on everything from property prices to restaurant bills to taxes.

The twist is that the Stefanellis weren’t moving from New York but rather from West Palm Beach, Fla., part of a movement known as “halfbacks”—northern transplants to Florida who are retiring in mountain communities of western North Carolina, northern Georgia and eastern Tennessee. These retirees are reshaping local economies, boosting everything from tax revenues to restaurant receipts to sales of electric chair lifts for the elderly. Along the way, they are chafing locals who say the migration is pricing them out of homes and bringing in a sort of big-city brusqueness.
I personally have no interest in FL-too hot, too humid and way too flat! The western NC, VA or eastern KY, TN and WV area is beautiful. I'm actually considering that myself (moving from Idaho). COL is lower, and the weather provides a longer motorcycling season.
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Old 08-13-2019, 11:02 AM
 
Location: Jewel Lake (Sagle) Idaho
27,978 posts, read 17,941,353 times
Reputation: 15969
Quote:
Originally Posted by retiredcop111 View Post
5 years ago me and my wife packed up and left NY. She was offered a job in Florida with the same exact salary as NY. We earn approximately 200k a year combined. So here are my savings. 12 k a year in state income tax. 8 k a year in property tax. 1 k a year in sales tax. I no longer pay a mortgage. That is 21k a year back in my pocket. That does not include home heating oil. Does not include the cost of gas. Does not include the higher cost of restaurants and entertainment. No red light and speeding cameras. I would say conservatively I am saving 25k a year and I also save because I am not paying an obscene mortgage. Lastly my house is brand new and I have very little home repair costs. In the 5 years I have lived here I have saved a minimum of 125k as opposed to NY. When I add in interest from my mortgage payments I am well over 200k in savings. Leaving NY was a godsend!
I left upstate 25 years ago this summer. My dumpy old home on <1 acre had a tax bill of $2700 a year-in 1993. Today I pay about $2k (again, 25 years later) on a 4000 SF newish home on 20 acres on a lake. Leaving WNY was the best thing I ever did. Do miss my GM salary and benefits though. I will say that actual housing costs (NOT taxes) were LOW in WNY-in a large part because the tax burden depressed them.
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Old 08-13-2019, 11:02 AM
 
24,196 posts, read 12,689,440 times
Reputation: 7769
Funny how folks are fleeing to states with almost no winter......lolol'
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Old 08-13-2019, 11:07 AM
 
Location: Jewel Lake (Sagle) Idaho
27,978 posts, read 17,941,353 times
Reputation: 15969
Quote:
Originally Posted by moneill View Post
Funny how folks are fleeing to states with almost no winter......lolol'
LOTS of folks are fleeing CA-for Idaho (as well as Montana, Utah and virtually everywhere else). Hint-it ain't over the weather.
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Old 08-13-2019, 11:10 AM
 
3,407 posts, read 1,778,517 times
Reputation: 5438
Quote:
Originally Posted by moneill View Post
Funny how folks are fleeing to states with almost no winter......lolol'
Sure that is part of the appeal of Florida. The other appeal is a much cheaper cost of living. BTW I never ever thought I would live down here. However after being down here for the last several years I can 100% tell you I never would consider moving back to NY!!
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Old 08-13-2019, 11:25 AM
 
1,279 posts, read 230,602 times
Reputation: 749
Quote:
Originally Posted by retiredcop111 View Post
Sure that is part of the appeal of Florida. The other appeal is a much cheaper cost of living. BTW I never ever thought I would live down here. However after being down here for the last several years I can 100% tell you I never would consider moving back to NY!!
This issue with Florida is always the same. A great place to live once you have established an income or career.

But

It is a tuff place to start your career for many. Just not enough jobs outside the service industry to support the young adult population. So I always remind friends that want to move to Florida that: Yes, you can move here but your children may need to relocate to find good paying work if their industry is not Service or construction of some sort. And the schools here are crap for the most part which has caused some companies to avoid relocating to Florida. There is a reason you don't see a ton of Corporate Headquarters in Florida given the weather, good roads, low taxes, governors that give away the kitchen sink to business, and beaches.
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